Cairo – Mubasher: The board of directors of Speed Medical Company approved the appointment of the Economic Group for Financial Consulting in Securities to assess the fair value (FV) of Speed Medical to be used in the non-cash increase.
The capital increase will be carried out at the FV of the share of Speed Medical Company after acquiring a majority stake in Prime Speed Healthcare, which owns 70% of Prime Speed Medical Services, according to a bourse disclosure on Wednesday.
In 2020, Speed Medical achieved net profits of EGP 79.2 million, up from EGP 17.09 million in 2019, including minority shareholders’ rights.
